HomeMy WebLinkAboutCity Council Resolution 1988-291CITY OF PLYMOUTH
Pursuant to due call and notice thereof, a regular meeting of the City Council of
the City of Plymouth, Minnesota was held on the 16th day of May ,
1988. The following members were present: Mayor Schneider, Councilmembers Vasiliou ,
Ricker, Zitur and Sisk
The following members were absent: None
Councilmember Sisk introduced the following Resolution and moved its
adoption: `,
RESOLUTION NO. 88- 291
REDUCING DEVELOPMENT BOND
BASS LAKE ESTATES 2ND ADDITION (86065)
WHEREAS, in accordance with the development contract dated July 9, 1986, Bass Lake
Development, Inc., developer of Bass Lake Estates .2nd Addition (86065), has agreed to
install certain improvements for said development; and
WHEREAS, the developer has completed a portion of the street, utility and site grading
as noted below; and
WHEREAS, the developer has requested a reduction of the development bond to reflect the
completed work;
NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF PLYMOUTH,
MINNESOTA; that the bonding requirements are reduced as follows:
Street Construction
Sanitary Sewer
Watermain
Storm Sewer
Boulevard and Drainage Swale Sod
Pond or Ditch Construction
Street Signs
Site Grading and Drainage Improvements
Park and Trail Improvements
Design, Administration, Inspection, As-Builts
TOTAL
$ 76,807
54,506
49,830
25,165
10,600
-0-
450
98,533
1,785
37,255
$ 354,931
$ -0-
-0-
-0-
-0-
8,000
-0-
-0-
4,927 °
-0-
1-551
$ 14,478
That the letter of credit required for the above items be reduced as detailed above
from $45,606 to $14,478 to reflect the completed work.
Resolution No. 88- 291
Page Two
FURTHER BE IT RESOLVED that the bonding requirements for the following items per
Section 8.1 of the approved development contract be reduced as follows:
j ORIGINALAMOUNT NEW AMOUNT
Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning
Cash: $1.000 51_000
Letter of Credit: $2.920 $16_460
FURTHER BE IT RESOLVED that the sanitary sewer, watermain, storm sewer, street
construction, and concrete curb and gutter is accepted for continual maintenance as of
May lb, 1988 subject to the One Year Guarantee by the Developer.
The motion for the adoption of the foregoing Resolution was duly seconded by
Cnunrilm`emhPr Zitur and upon vote being taken thereon, the following voted
in favor thereof: _ Mayor Schneider, Counrilmembers Vaciliou, Ricker, Z;tur and Sisk ,
The following voted against or abstained: None
Whereupon the Resolution was declared duly passed and adopted.